COSCO’S PROPERTY COMPANY REPORTS HALF-YEAR LOSS
COSCO International Holdings Ltd., the big Hong
Kong-based property company of the China Ocean Shipping Co. group, reported an operating
loss of HK$19.3 million (US$2.5 million) for the first half of the year, compared to a
deficit of HK$75.3 million for the same period last year.
The loss attributable to shareholders amounted to HK$19.8 million
(US$2.6 million), an improvement of 74 percent over the last corresponding period.
Revenues soared by 75 percent, to HK$749.1 million (US$96.5 million).
The Hong Kong-based company said that it was able to make a substantial
growth in revenues and a reduction in operating loss despite the difficult economic
environment in the first half of 1999.
COSCO International is a listed company owned by COSCO (Hong Kong).